Numerai announced that they are launching Erasure,a new decentralized data marketplace. It allows anybody to upload predictions, stake them with NMR( Numerai’s native token), build a track record that everyone can verify, and earn money.
- Prediction feeds are stored on IPFS and their hash is submitted to the Ethereum blockchain for a “Proof of Existence”
- Predictions follow a commit-reveal protocol that ensures two things
- past predictions are visible, for the predictor to build credibility
- latest predictions are hidden till someone pays to reveal them, earning the predictor some NMR
- Erasure also has a “Griefing” mechanism where buyers of the prediction feed, can burn the seller’s stake in proportion to the amount they burn themselves. Acting as a extra incentive for valuable predictions.
Source Numerai’s blog